"As well as being an exciting new urban race series, it will facilitate the development of important new electric car technology which could one day feature in mainstream road cars and be of significant benefit to the environment."

Martin Whitmarsh, CEO McLaren Group and Team Principal of Vodafone McLaren Mercedes, said in a statement:

"I'm a passionate believer in the role that motorsport can play in showcasing and spearheading the development of future technologies, and regard the Formula E concept as an exciting innovation for global motorsport."